FORTUNE — McDonald’s (MCD) got a little bit nearer to conquering the world Monday when it unsealed its first restaurant in Vietnam. The launch in Ho Chi Minh City marked the take out giant’s 10, 000th place in Asia and entry into its 120th nation.
“Clearly i believe there’s suppressed interest in McDonald’s in Vietnam, ” CEO Don Thompson told Fortune in a telephone meeting from Sochi. “It’s been regarding the business’s radar display screen for a time.”
The opening comes amid a challenging duration for McDonald’s in its home market. On Monday its U.S. business reported its 3rd thirty days consecutively of same-store sales declines, plus January Thompson noted your company had lost some relevance with clients. McDonald’s is starting to become progressively reliant on worldwide markets as a revenue driver: In 2012, 68per cent of revenue originated from outside the U.S., up from about a 50-50 split in 2000.
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McDonald’s has actuallyn’t established an innovative new marketplace since 2011 if the Golden Arches found its way to Bosnia and Herzegovina in July of this year and then in Trinidad and Tobago two months later on. After showing up in Mauritius in 2001, McDonald’s didn’t enter a nation for 10 years. The company slowed down shop development during that duration, emphasizing development through increasing product sales at current stores instead of through more restaurants.
Thompson told Fortune that entry into Vietnam should not be look over as a change in method or a refocusing of efforts. “We’re maybe not moving all of our resources to just starting new markets, ” he says. However, he performed note that Asia will be the web site of a predominance of new products moving forward.
McDonald’s still has a whole lot more ground to cover in Asia in developing its shop base in countries in which it already features an existence and setting up in nations in which it is lacking (Cambodia, Bangladesh, and Laos among others). Thompson claims the business has its own hands complete with Vietnam at present, but McDonald’s is going to still try to find brand new opportunities in Asia.
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Vietnam’s 350-seat restaurant in Ho Chi Minh City, open 24-hours, is located within terminus associated with the 1, 000-mile highway that links that city, the country’s largest, with all the capital, Hanoi. The positioning features Vietnam’s very first drive-through, that is available to both cars in addition to motorbikes that dominate the city.